Ratings company Demotech is holding off on issuing large-scale ratings downgrades of Florida property insurers for now, after a number of insurers heeded its warning of last month about the effects of assignment of benefits abuse and state court rulings …
Insurers have paid out more than $31.6 million on 2,801 claims from tornadoes that hit Mississippi in January. The Mississippi Insurance Department reported the figures through Feb. 3. Mississippi Insurance Commissioner Mike Chaney said immediately after the storms, he expects …
Florida’s insurance industry will apply significant pressure on lawmakers to pass assignments of benefit (AOB) reform in the upcoming legislative session as consumers face rate increases and a looming coverage availability crisis due to serious and costly abuse of the …
The Florida insurance market has been a hotbed of controversy over the last year, and many are looking at the Florida State Legislature to alleviate some of the concerns coming from consumers, businesses and the industry itself. From insurance fraud …
Florida now has legislation backed by the top Florida insurance regulator and the industry that promises to curtail homeowners insurance abuse under the assignment of benefits (AOB) feature. Senate Bill 1038, filed Feb. 17 by State Sen. Dorothy Hukill and …
Insurers have paid out more than $31.6 million on 2,801 claims from tornadoes that hit Mississippi last month. The Mississippi Insurance Department reported the figures through Feb. 3. Mississippi Insurance Commissioner Mike Chaney said immediately after the storms he expects …
Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from unscrupulous contractors and attorneys …
Florida’s insurance industry will apply significant pressure on lawmakers to pass assignments of benefit (AOB) reform in the upcoming legislative session as consumers face rate increases and a looming coverage availability crisis due to serious and costly abuse of the …
Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from unscrupulous contractors and attorneys …
Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers get ready to announce their 2016 …
